The focus of transactions in the float glass market continues to move downward

Float glass market price

Analysis of float glass market

Today, China's 5mm float glass market as a whole showed a downward price trend, with prices in various regions falling by 10-40 yuan/ton. The focus of market transactions continued to move downward, and the trading atmosphere was poor. After the holiday, most glass manufacturers lowered their quotations through profit-sharing operations to promote shipments, but the pressure on production and sales is still high; the market price of 5mm large and small plate float glass in the Shahe area of North China is relatively stable, but the downstream stocking mood is general. The current float glass market is facing great supply pressure, coupled with weak downstream demand, lack of obvious positive driving forces in the market fundamentals, and there is still a bearish trend in the market outlook.

Float Glass Index Analysis

According to data from Boduo, the float glass price index on September 18 was 1,112.33, down 9.34 from the previous working day, with a range of-0.83%.

Futures dynamics

According to data from Boduo, the opening price of FG2501, the main glass contract, on September 18, was 1041 yuan/ton, and finally closed at 1030 yuan/ton, an increase of-1.34% within the day. The intraday high was 1041 yuan/ton, the lowest was 1004 yuan/ton, holding 1,249,944 lots, a month-on-month +13396 lots.

Today's overall glass futures prices rebounded mainly on a weak basis. The fundamentals of glass itself still lack a strong drive, and the rebound in the afternoon was mainly influenced by market policy news and other fluctuations in market sentiment. Overall, although the current glass market has not yet seen significant improvement in demand, it is currently in the policy window period when the season changes, and the emotional disturbance driven by policy news will still have a greater impact on price fluctuations. In the short term, it is recommended to wait and see whether market sentiment can be sustained and whether policies can be implemented to improve the actual market environment.

market outlook

Profits in the float glass market are at historically low levels, and the willingness of the supply side to cold repair and switch production has increased; the demand side has not improved, and it is expected that the float glass market will continue to operate under pressure in the short term.